Core Insights - Mortgage rates have continued to decline, reaching their lowest level in over a year, with the 30-year fixed-rate mortgage averaging 6.19% as of October 23, 2025 [2][4] - The 30-year fixed-rate mortgage was above 7% at the beginning of 2025, indicating a significant decrease of nearly one percentage point [2] - Refinancing activity remains high, constituting more than half of all mortgage transactions for the sixth consecutive week [2] Mortgage Rate Trends - The 30-year fixed-rate mortgage averaged 6.19% on October 23, 2025, down from 6.27% the previous week and 6.54% a year ago [4] - The 15-year fixed-rate mortgage averaged 5.44%, a decrease from 5.52% last week and down from 5.71% a year ago [4] Freddie Mac's Mission - Freddie Mac aims to enhance liquidity, stability, and affordability in the housing market across various economic cycles, having assisted millions of families since its inception in 1970 [3]

Core Insights - The 30-year fixed-rate mortgage (FRM) averaged 6.63% as of August 7, 2025, marking a decrease from 6.72% the previous week and an increase from 6.47% a year ago [1][5] - The decline in mortgage rates enhances purchasing power for prospective homebuyers, potentially allowing them to save thousands by comparing quotes from different lenders [1][5] Mortgage Rate Summary - The 30-year FRM decreased to 6.63% from 6.72% week-over-week and increased from 6.47% year-over-year [5] - The 15-year FRM averaged 5.75%, down from 5.85% the previous week and up from 5.63% a year ago [5] Freddie Mac's Mission - Freddie Mac aims to promote liquidity, stability, and affordability in the housing market, having assisted tens of millions of families since 1970 [3]